Japan’s Daio Paper and Tokushu Tokai Paper to buy stakes in each other

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Japan’s Daio Paper and Tokushu Tokai Paper to buy stakes in each other

August 14, 2013 - 08:17
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SAN FRANCISCO, Aug. 13, 2013 (RISI) - Daio Paper and Tokushu Tokai Paper in Japan plan to acquire 3% stakes in each other in a move to jointly develop disposable diapers, Jiji Press reported this week.

The companies will also pursue cost cutting measures in tissue paper and containerboard, reports added.

Daio's top shareholder, Hokuetsu Kishu Paper, will see its holding diluted. Relations between the two companies have soured over differences in a possible business integration.